Last year was a really stressful year for me.
I lost all my money from crypto investments. I'm worried if I need to pay any taxes on the intermediary capital gains I made while I was frantically buying/selling coins.
Say I made USD $100K on ETH and sold all of them to USDC. Then I bought DOGE at the top and sold the bottom losing $200K. Can I deduct all the capital gains (100K) with the capital loss (200K) and pay no capital gains tax? I've read there's a limit you can deduct from capital loss which is $3000.
Does this mean I can only deduct $3000 from the capital gains tax i might have to pay from $100K? and the rest $197K will be rolled over to the next year?
#tax #crypto
TC 325K
YOE 4
Want to see the real deal?
More inside scoop? View in App
More inside scoop? View in App
blind
SUPPORT
FOLLOW US
DOWNLOAD THE APP:
FOLLOWING
Industries
Job Groups
- Software Engineering
- Product Management
- Information Technology
- Data Science & Analytics
- Management Consulting
- Hardware Engineering
- Design
- Sales
- Security
- Investment Banking & Sell Side
- Marketing
- Private Equity & Buy Side
- Corporate Finance
- Supply Chain
- Business Development
- Human Resources
- Operations
- Legal
- Admin
- Customer Service
- Communications
Return to Office
Work From Home
COVID-19
Layoffs
Investments & Money
Work Visa
Housing
Referrals
Job Openings
Startups
Office Life
Mental Health
HR Issues
Blockchain & Crypto
Fitness & Nutrition
Travel
Health Care & Insurance
Tax
Hobbies & Entertainment
Working Parents
Food & Dining
IPO
Side Jobs
Show more
SUPPORT
FOLLOW US
DOWNLOAD THE APP:
comments
But on the bright side, as other have said, as long as you realized the gains and losses both in 2021 then they’ll bet out and you don’t owe any taxes on the interim gain.